WHT IS EXACT AMENDMENT IN SEC 80 D FOR 2009-2010
IT IS FROM DEDUCTION FRM CHAPTER VIA
PLZ TELL WHT IS DEDUCTION AVAIBLE TO DEPENDENT PARENTS AND INDIVIDUAL
I M CONFUSED AS V.K.SINGHANIA IS GIVING DIFF AND TAX AMENDMENT BOOK OF ICAI IS DIFF PLZ HELP
8 Replies
Sandeep Pandey
(CA FINAL)
(1306 Points)
Replied 01 November 2009
80 D : Medical Insurance Premium :
The following deduction can be claimed:
i) Rs. 15000 (Rs 20000 for senior citizen) and Additional Rs 15000 for the insurance of parents ( Rs. 20000 in case parents are senior citizen)
ii) Parents and spouse need not be dependent, where as child shall be a dependent to avail this deduction.
(Guest)
| Originally posted by :sandeep pandey | ||
| " | 80 D : Medical Insurance Premium : The following deduction can be claimed: i) Rs. 15000 (Rs 20000 for senior citizen) and Additional Rs 15000 for the insurance of parents ( Rs. 20000 in case parents are senior citizen) ii) Parents and spouse need not be dependent, where as child shall be a dependent to avail this deduction. |
" |
Agree with Sandeep.....
Karam
(Pursuing IPCC)
(131 Points)
Replied 01 November 2009
Section 80 D (Deduction in case of Premium of mediclaim policy)
Deduction is allowed only to an individual & HUF in case of payment of premium towards a mediclaim policy and payment should be made otherwise then in cash.
Deduction is allowed equal to the amount of premium paid but maximum RS 15000 for self, spouse and dependant children.But if premium has been made for a senior citizen, additional deduction is allowed upto RS 5000.
If the assesse has taken a policy in the name of parents whether dependant or independant ,deduction shall be allowed to extent of Rs 15000 and in case of senior citizen, additional deduction is allowed upto Rs 5000.
Example: Mr X has paid premium of mediclaim policy by cheque with particulars as given below
Mr X------------------------ RS 7000
Mrs X---------------------- RS 6000
Dependent Son-------- RS 4000
Dependant Daughter---- Rs 3000
Father of Mr X---------------Rs 10000
Mother of Mr X--------------Rs 7000
Total Deduction =30000
And if Father , mother & Mr X is senior citizen, in this case deduction allowed shall be Rs 37000
Neelima
(-)
(72 Points)
Replied 01 November 2009
mediclaim premium paid in respect
self,spouse& parents, Total deduction
dependentChildren dependent or not u/s.80D
No one attained
the age of 65yrs: Rs.15,000 Rs.15,000 Rs.30,000
Assesse is less
than 65yrs of age
and parent is a senior citizen: Rs.15,000 Rs.20,000 Rs.35,000
both attained the age
of 65yrs : Rs.20,000 Rs.20,000 Rs.40,000
Amareswar
(Faculty for CA CPT & IPCC)
(117 Points)
Replied 02 November 2009
mediclaim premium paid in respect
self,spouse& parents, Total deduction
dependentChildren dependent or not u/s.80D
No one attained
the age of 65yrs: Rs.15,000 Rs.15,000 Rs.30,000
Assesse is less
than 65yrs of age
and parent is a senior citizen: Rs.15,000 Rs.20,000 Rs.35,000
both attained the age
of 65yrs : Rs.20,000 Rs.20,000 Rs.40,000
SNEHA
(ca)
(157 Points)
Replied 02 November 2009
thanku everybody it was gr8 to get answers bye thanks alot once again
abhinav
(Banker)
(224 Points)
Replied 05 January 2010
i) Rs. 15000 (Rs 20000 for senior citizen) and Additional Rs 15000 for the insurance of parents ( Rs. 20000 in case parents are senior citizen)
ii) Parents and spouse need not be dependent, where as child shall be a dependent to avail this deduction
n 80dd fully handicaped 75000
and partly handicap 50000
sriram
(CA)
(281 Points)
Replied 07 January 2010
hi abhinav theres nothin as fully & partly handicap its based on severity
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